COMMERCIAL.

Ashburton Guardian, Volume XIV, Issue 2960, 29 April 1893, Page 3

COMMERCIAL.

[per press association.]

London, April 27. Mr Perceval states that he has ascertained that the colonial cheese imported into England is being injured by defective currying arrangements. The Directors of the Lcndon Chartered Bank are preparing a scheme for re-con-stiuction with the assistance, of the Directors of the English and Scottish Bank. The scheme will be submitted to the shareholders on May 4. It is stated that less than 600 shares in the London Chartered Bank are held in the colonies. Sir J. F. Garnck doubts whether the Bank could have withstood the run here had the Melbourne branch not shut. Ha states that the failure of the Commercial Bank induced fresh withdrawals. - It is officially stated that the scheme for the re-construction of the Fnglish and Scottish Bank provides for a share capital of £1,575,000. Forty-five thousand new shares at £35 each will replace the old ahares. The new shares will be payable £5 forthwith and £7 10d at intervals of three, six, twaive, and eighteen months. The assets are to be acquired at a reduction of £760.000, comprising £310,000 reserve and £10 per share capital paid up to the extent of £1 012,500. Four per cent debentures for £2,500,000 will be issued to creditors, and it is also proposed to issue 4§ per cent perpetual deposit stock to an equal amount. The Queensland National Bank intends to proceed against the ''Standard" for libel for stating that there had been a serious run oa the Bank in Brisbane. Canterbury mvtton, ex Coptic, 4i, New Zealand long-berried wheat is steady at 30d. South Australian wheat is quiet at 33s 3d. Victorian wheat is also quiet at 335. The American visible supply of wheat is 96,000,000 bushes. A South Australian wheat cargo sold at 29s 4£d. At the wool sbles prices are firm, ex cepting for high class greasy, which v weak. There ia a strong demand for lambs' wool. Bank shares remain steady, Queensland National Bank shares are quoted at £1. Sydney, April 28. The Bank Bill was introduced in the Legislative Asssembly to-day. An exciting debate took place on a motion to suspend the Standing Orders to allow the Bill to pass all stages on Tuesday. Eventually the motion was carried. (Received April 29, 10.30 a.m.) ANOTHER BANK FAILURE. Melbourne, April 29. The Standard Bank, which was reincorporated some time ago, has suspended payment. The failure is due to a depositor refusing to sign the agreement excluding his deposit, and demandins; his money. Ihe Echune of reconstruction is being prepared. The liabilities ttmouut to £1,233,000, and che advances to £1,135,000. The cash in the bank ia £30,000. There are no branches in the other colonies.